§ Mr. PawseyTo ask the Secretary of State for Education and Science if he will make a statement on the business sponsorship scheme for sport.
§ Mr. AtkinsI am happy to announce today further details of how the business sponsorship scheme for sport is to operate in England. We aim to start the scheme as soon as possible in the coming financial year. Its initial funding in England, where it will be run by the Institute of Sports Sponsorship, will be £3 million.
The scheme will provide a much needed boost to business sponsorship of sport at the grass roots level, ensure that business gets better value for its sponsorship and promote partnership between sport and business at the local level. It will be aimed particularly at the inner cities and at promoting opportunities for young people. Since it is targeted at the grass roots, national events in the sporting calendar will be excluded and it will not cover sponsorship of individuals.
Subject to the discretion of an indpendent panel, the awards will match first time sponsors pound for pound with a minimum of £1,000 and a maximum of £75,000. Existing sponsors seeking to renew their sponsorship of a grass roots event or project will also be eligible for pound for pound matching of any increase in their sponsorship.
It will be open to either the sponsoring company or the sports body to apply for the award of matching finance. Each award will be used by the sports body to enhance the value of the sponsorship and offer the sponsor an even better deal. The award will be paid to the sports body once the sponsor had made his own contribution.
There is no limit to the number of awards a business can receive. The scheme will be open to applicants throughout the year for any eligible sports events or projects, whatever the size of the sports body.
649WThe scheme will be available throughout Great Britain. Details of how it will operate in Scotland and Wales will be announced later.